What’s driving MicroStrategy’s relentless push toward acquiring more BTC?
- MicroStrategy surpasses 400,000 BTC holdings, acquiring over 15,000 BTC in recent weeks. MARA Holdings adopts MicroStrategy’s strategy, purchasing 6,484 BTC, valued at $3.3 billion.
MicroStrategy’s commitment to Bitcoin [BTC] acquisition remains unwavering, regardless of market conditions.
As November closes and December begins, the business intelligence giant has made notable strides in its Bitcoin strategy, pushing its holdings to over 400,000 BTC.
MicroStrategy’s current Bitcoin holdings
MicroStrategy’s Bitcoin holdings now total 402,100 tokens, valued at approximately $38.2 billion based on the current price of $95,000 per BTC.
The company’s average purchase price stands at $58,263 per token.
This latest acquisition was financed through share sales under its ongoing at-the-market program, as disclosed.
Executive Chairman Michael Saylor hinted at the announcement of this purchase on 1st December, generating further anticipation within the crypto community ahead of the reveal.
Source: Michael Saylor/X
In the past week, MicroStrategy sold 3.7 million shares of its MSTR stock, raising around $1.5 billion, which was immediately reinvested into BTC.
This marks the company’s fourth consecutive week of Bitcoin purchases.
As per Bloomberg, MicroStrategy has around $11.3 billion remaining in its stock issuance program, which is part of a larger strategy to secure $21 billion in funding through fixed-income securities by 2027.
In fact, according to the latest filing with the U.S. Securities and Exchange Commission (SEC), MicroStrategy acquired 15,400 BTCs between the 25th of November and the 1st of December, purchasing them at an average price of around $95,976 per token.
Since the 11th of November, the company has invested more than $13.5 billion in Bitcoin across three separate batches.
Is MARA following MicroStrategy’s footsteps?
Bitcoin miner MARA Holdings (MARA) has continued its pursuit of MicroStrategy’s Bitcoin acquisition strategy, recently purchasing 6,484 BTC for approximately $618.3 million in cash between the 1st of October and the 30th of November, at an average cost of $95,352 per token.
As of the 30th of November, MARA holds 34,959 BTC, valued at $3.3 billion at current prices.
However, it’s important to note that MicroStrategy is navigating a challenging phase as its market capitalization experiences an unprecedented four-day decline.
Since reaching its peak on the 21st of November, the company’s valuation has plummeted by over 35%, erasing more than $30 billion.
Meanwhile, BTC was trading at $94,868.35, reflecting a 0.50% decline in the past 24 hours, and MSTR stock was down 1.85%, trading at $380.30.
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